Drinking Places SBA Loans

With these SBA loans for drinking places, the SBA guarantees the lender that the loan will be repaid. This drinking places loan for $80,000 was given to a New York entrepreneur in 2002.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Rochester, New York was able to borrow $80,000 from Hsbc Bank Usa. The SBA made the loan possible by guaranteeing $68,000 of this New York small business loan.

SBA Loan Borrower

COMPANY TYPE: DRINKING PLACES
ROCHESTER, NY 14612

SBA Loan Lender

HSBC BANK USA
ONE HSBC CTR
BUFFALO, NY 14203

This lender issued this particular loan under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5813 - Drinking Places

NAICS Code

722410 - Drinking Places

Loan Approval Date

6/13/2002

Loan Approval Gross Amount

$80,000

Loan Approval from the SBA

Of the total $80,000 loan amount, the SBA guaranteed $68,000.

More Information on This SBA Loan

The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 12 employees. The loan application did not indicate that the SBA funding recipient promised to use the loan proceeds to add employees or retain any existing employees.

Getting an SBA Loan For Your Business

SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.

While you may be able to find business people willing to loan money, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan.

About This SBA Loan Information:

All SBA loan data displayed above comes from the government's publicly available SBA loan database. Information on this page is provided by the Gaebler.com news organization to inform business owners, aspiring entrepreneurs and others about SBA loan activity. LoanCensus.com does not assist businesses with obtaining SBA loans and was not involved in any way with this transaction. For additional information, see our Loan Information FAQ.

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